Since Trump’s announcement of tariffs, there had been growing concern: would the memories of the 1987 Black Monday return? Would the stock market crash again? As soon as the markets opened, those fears started materializing globally.
China’s Shanghai Composite Index dropped by 4.21%.
Japan’s Nikkei Index fell by 7%.
South Korea’s Kospi Index dropped by 4.8%.
Hong Kong’s stock market plunged by over 9%.
Australia and Taiwan’s stock markets dropped by 6% and 9.8% respectively.
Similar scenes of bloodbath were visible in both the Indian and American stock markets.
Overall, the terrifying memories of Black Monday are haunting the global markets once again.
On this day, as soon as trading began, the Sensex fell by 3,068 points, dropping to 72,296.51.
Within moments, India’s stock market plunged to its lowest level in the past 10 months.
The Sensex crashed by 3,939.68 points, reaching 71,425.01.
At the same time, the Nifty also dropped by 1,160.8 points, settling at 21,743.65.
According to market experts, Trump’s tariff war is the primary reason behind this market bloodbath.
Not just Dalal Street, but stock markets across Asia are bleeding.
For reference: What exactly was Black Monday?
On October 19, 1987, the world witnessed one of the worst stock market crashes in history.
On that Monday, the Dow Jones Industrial Average plunged by 22.6% in a single day.
The causes behind that catastrophic fall included program trading, market overvaluation, global uncertainty, and panic selling.
Now, investors fear — will we have to face such a disastrous scenario again?
About The Author
